• GBP/AUD gave up initially gains as investors digested RBA rate decision and awaited fresh catalyst.
•Australia’s central bank raised its cash rate to a 15-year high of 4.60% on Tuesday, its fourth hike this year, saying inflation remained too high and further increases could be needed.
• On the data front, Bank of England data showed unsecured lending to British households grew at its fastest annual pace since 1993 in August, highlighting resilient consumer demand ahead of the October budget.
•British shop price inflation slowed slightly in September despite cost pressures on retailers from the Iran war, according to a survey from the British Retail Consortium.
•Investors are awaiting second-quarter GDP data due later this week for clues on the health of the UK economy.
• Immediate resistance is located at 1.8952(Higher BB), any close above will push the pair towards 1.9000(Psychological level).
• Immediate support is seen at 1.8875(38.2%fib) and break below could take the pair towards 1.8831(SMA 20).
Recommendation: Good to sell around 1.8940, with stop loss of 1.9000 and target price of 1.8870


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